PPA Tour and Major League Pickleball Seal Merger, Signaling New Era for the Sport
Dallas and Austin, Texas - February 29, 2024 - The landscape of professional pickleball takes a momentous leap forward today as the Carvana PPA Tour ("PPA Tour") and MLP by Margaritaville ("MLP") officially announced the successful completion of their merger, creating a unified and formidable professional pickleball entity. The merger, backed by a substantial $75 million investment from private equity firm SC Holdings, D.C. Pickleball Team owner Al Tylis, PPA Tour owners Tom Dundon and the Pardoe Family, alongside a consortium of existing MLP team owners, solidifies the sport's position as a dynamic and lucrative industry.
This strategic alliance brings together the two leading professional pickleball organizations, each renowned for their distinct formats and fan experiences, under one umbrella holding company. While maintaining their unique identities and formats, the consolidation promises to streamline the professional pickleball calendar, providing fans, players, and sponsors with an enhanced and cohesive experience throughout the season.
Over 150 professional pickleball players, including the world's top-ranked athletes, have committed to multi-year contracts with the unified entity. The merger introduces an expanded calendar, seamlessly integrating individual (PPA Tour) and team-based (MLP) events, thereby enriching the sport's landscape and providing players with increased earning opportunities. Annual player payouts are anticipated to surge by nearly 250% compared to 2023, underscoring the newfound viability of professional pickleball careers.
PPA Tour Founder and CEO Connor Pardoe expressed his enthusiasm, stating, "Today marks an exciting milestone for all stakeholders in the pickleball community. The amalgamation of MLP and the PPA Tour represents a significant step forward in cultivating a sustainable ecosystem where top-tier athletes can showcase their talents across both exhilarating pickleball formats."
MLP CEO Bruce Popko echoed Pardoe's sentiment, emphasizing the merger's pivotal role in propelling professional pickleball to new heights. "This merger heralds a new era of growth for our sport. The combined resources and networks of the PPA Tour and MLP will not only elevate the professional game but also benefit stakeholders across the board, from sponsors to venue operators."
The 2024 Carvana PPA Tour will feature a comprehensive calendar of events, commencing with the PPA Tour: The Masters in Palm Springs, California, and culminating in the PPA Tour Finals in San Clemente, California. Meanwhile, the 2024 MLP season schedule will showcase a series of regular season events, culminating in the MLP Playoffs in November, offering a compelling blend of individual and team-based competition.
The newly formed parent company's board of directors boasts an impressive lineup of industry luminaries, investors, and sports personalities, including Jason Stein from SC Holdings, Al Tylis, Matt Turney from Dundon Capital Partners, Julio DePietro, and former Goldman Sachs Partner Brian Levine.
About MLP by Margaritaville, MLP by Margaritaville (Major League Pickleball) stands as the premier team-based professional pickleball league, featuring over 100 top athletes across 24 teams, a unique coed format, and electrifying live events. For more information, visit the official website and follow MLP on social media platforms.
About Carvana PPA Tour, Founded in 2019, the Carvana PPA Tour serves as the pinnacle of professional pickleball, hosting tournaments at world-class facilities and offering unparalleled fan experiences. For more information, visit the official website and follow PPA Tour on social media platforms.
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